North America Engineering Plastics Market Size

The North America Engineering Plastics Market is experiencing significant growth, driven by its application across various industries such as packaging, electrical and electronics, and automotive. The market's expansion is largely attributed to the increasing demand for packaged food and beverages, as well as the rising need for plastic composites in electrical and electronics applications. The United States and Mexico are key contributors to this growth, with Mexico emerging as the fastest-growing market due to its focus on industrial modernization. The versatile properties of engineering plastics are facilitating their widespread use, and technological advancements are further propelling market growth.

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Market Size of north america engineering plastics Industry

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North America Engineering Plastics Market Summary
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https://s3.mordorintelligence.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period 2017 - 2029
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2024) USD 18.54 Billion
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2029) USD 25.64 Billion
https://s3.mordorintelligence.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Largest Share by End User Industry Packaging
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg CAGR (2024 - 2029) 6.70 %
https://s3.mordorintelligence.com/globe/1629285706162_test~globe_globe.svg Largest Share by Country United States

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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North America Engineering Plastics Market Analysis

The North America Engineering Plastics Market size is estimated at 18.54 billion USD in 2024, and is expected to reach 25.64 billion USD by 2029, growing at a CAGR of 6.70% during the forecast period (2024-2029).

18.54 Billion

Market Size in 2024 (USD)

25.64 Billion

Market Size in 2029 (USD)

3.85 %

CAGR (2017-2023)

6.70 %

CAGR (2024-2029)

Largest Market by End-user Industry

30.93 %

value share, Packaging, 2023

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Due to the wide range of applications, including bottles, jars, and containers, specifically in the food and beverage industry, the packaging segment occupied the major share.

Fastest Growing Market by End-user Industry

8.37 %

Projected CAGR, Electrical and Electronics, 2024-2029

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The segment is expected to record the fastest growth due to the superior properties of engineering plastics, such as lightweight, easy-to-make complex shapes, higher flexibility, and good fire resistivity.

Largest Market by Resin Type

29.06 %

value share, Polyethylene Terephthalate (PET), 2023

With widespread applications in the packaging industry and rising demand for PET sheets and films to replace traditional metal parts, PET resin occupies the largest share in the region.

Largest Market by Country

80.87 %

value share, United States, 2023

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Due to the stable economic growth and escalating demand from various industries, including packaging, electrical, and electronics, the United States has dominated the demand for engineering plastics in the region over recent years.

Leading Market Player

24.23 %

market share, Alfa S.A.B. de C.V., 2022

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In 2022, the company held the largest share due to its production capacity of around 1.8 million tons per year of PET resin. Also, the company offers various grades, mainly for packaging applications.

Packaging industry to lose some of its volume share to electrical and electronics industry

  • Engineering plastics have applications ranging from interior wall panels and doors in aerospace to rigid and flexible packaging. The North American engineering plastics market is led by industries such as packaging, electrical and electronics, and automotive. Packaging and electrical and electronics accounted for around 31.35% and 17.43%, respectively, of the engineering plastics market in terms of revenue in 2022.
  • Packaging is the largest end-user industry in the region due to families worldwide becoming smaller and significant changes in urbanization and family demographics. These factors increase the demand for functional, prepackaged, and convenient food products. Plastic packaging production in North America had a volume of 22.4 million tons in 2022, which was 16.6% globally. The demand for engineering plastics in the region is increasing due to the increasing consumer demand for packaged food and beverages.
  • The electrical and electronics sector is the second largest in the region and especially in the United States. The sector accounted for 1.6% of the GDP. It generated a revenue of USD 576.1 billion in 2022 in the region, thus increasing the demand for electrical and electronics and empowering the onset of electric vehicles, autonomous robots, and top-secret defense technologies, thereby boosting the demand for engineering plastics.
  • The electrical and electronics industry is the fastest-growing in the region by revenue, with an expected CAGR of 8.54% during the forecast period (2023-2029), due to increasing applications of engineering plastics for the need of plastic composites in various electrical and electronics applications.
North America Engineering Plastics Market

Evolving consumer and industrial trends, coupled with technological innovations, may boost the demand for engineering plastics

  • North America accounted for a 15% consumption share of engineering plastics globally in 2022. Engineering plastics exhibit versatile properties, thus finding applications in the automotive, packaging, and electrical and electronics industries.
  • The United States recorded a growth of 7.14% by value in 2022 compared to the previous year, attributed to the packaging and electrical and electronics industries, which held 27% and 24% of the market shares, respectively, by value. With an increase in the demand for ready-to-eat convenience food products and the emerging trend of an on-the-go lifestyle, the consumption of packaging materials has increased, thus boosting the sales of engineering plastics in the region. With companies adopting work-from-home models and people setting up home offices, the demand for electronic devices also increased. Technological innovations are also creating consistent demand for electronic gadgets every year.
  • Mexico is the fastest-growing market, recording a growth of 10.53% in terms of value in 2022 compared to 2021, led by the industrial machinery and equipment industry. Mexico aims to improve its highways, modernize its ports, and expand its farms by making them more mechanized, thus boosting the demand for construction and farming machinery.
  • The North American engineering plastics market is expected to register a CAGR of 6.62% during the forecast period, with the electrical and electronics industry recording the highest CAGR of 8.54% by value. The use of advanced materials, organic electronics, miniaturization, and disruptive technologies like AI and the IoT may also boost the adoption of smart manufacturing practices, thus driving the industry's growth.

North America Engineering Plastics Industry Segmentation

Aerospace, Automotive, Building and Construction, Electrical and Electronics, Industrial and Machinery, Packaging are covered as segments by End User Industry. Fluoropolymer, Liquid Crystal Polymer (LCP), Polyamide (PA), Polybutylene Terephthalate (PBT), Polycarbonate (PC), Polyether Ether Ketone (PEEK), Polyethylene Terephthalate (PET), Polyimide (PI), Polymethyl Methacrylate (PMMA), Polyoxymethylene (POM), Styrene Copolymers (ABS and SAN) are covered as segments by Resin Type. Canada, Mexico, United States are covered as segments by Country.

  • Engineering plastics have applications ranging from interior wall panels and doors in aerospace to rigid and flexible packaging. The North American engineering plastics market is led by industries such as packaging, electrical and electronics, and automotive. Packaging and electrical and electronics accounted for around 31.35% and 17.43%, respectively, of the engineering plastics market in terms of revenue in 2022.
  • Packaging is the largest end-user industry in the region due to families worldwide becoming smaller and significant changes in urbanization and family demographics. These factors increase the demand for functional, prepackaged, and convenient food products. Plastic packaging production in North America had a volume of 22.4 million tons in 2022, which was 16.6% globally. The demand for engineering plastics in the region is increasing due to the increasing consumer demand for packaged food and beverages.
  • The electrical and electronics sector is the second largest in the region and especially in the United States. The sector accounted for 1.6% of the GDP. It generated a revenue of USD 576.1 billion in 2022 in the region, thus increasing the demand for electrical and electronics and empowering the onset of electric vehicles, autonomous robots, and top-secret defense technologies, thereby boosting the demand for engineering plastics.
  • The electrical and electronics industry is the fastest-growing in the region by revenue, with an expected CAGR of 8.54% during the forecast period (2023-2029), due to increasing applications of engineering plastics for the need of plastic composites in various electrical and electronics applications.
End User Industry
Aerospace
Automotive
Building and Construction
Electrical and Electronics
Industrial and Machinery
Packaging
Other End-user Industries
Resin Type
Fluoropolymer
By Sub Resin Type
Ethylenetetrafluoroethylene (ETFE)
Fluorinated Ethylene-propylene (FEP)
Polytetrafluoroethylene (PTFE)
Polyvinylfluoride (PVF)
Polyvinylidene Fluoride (PVDF)
Other Sub Resin Types
Liquid Crystal Polymer (LCP)
Polyamide (PA)
By Sub Resin Type
Aramid
Polyamide (PA) 6
Polyamide (PA) 66
Polyphthalamide
Polybutylene Terephthalate (PBT)
Polycarbonate (PC)
Polyether Ether Ketone (PEEK)
Polyethylene Terephthalate (PET)
Polyimide (PI)
Polymethyl Methacrylate (PMMA)
Polyoxymethylene (POM)
Styrene Copolymers (ABS and SAN)
Country
Canada
Mexico
United States
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North America Engineering Plastics Market Size Summary

The North America engineering plastics market is experiencing significant growth, driven by its diverse applications across various industries such as packaging, electrical and electronics, and automotive. The packaging sector stands out as the largest end-user, fueled by changing family demographics and urbanization trends that increase the demand for convenient and functional food packaging. The electrical and electronics industry, particularly in the United States, is also a major contributor to market expansion, with its rapid growth attributed to the rising demand for consumer electronics and advancements in technologies like electric vehicles and autonomous systems. Engineering plastics are favored for their versatile properties, making them essential in these sectors.

The market is characterized by a fairly consolidated landscape, with major players like Alfa S.A.B. de C.V., Ascend Performance Materials, and SABIC holding significant market shares. The region's engineering plastics market is poised for continued growth, supported by technological innovations and the adoption of smart manufacturing practices. Mexico is noted as the fastest-growing market within the region, driven by developments in industrial machinery and infrastructure. Recent strategic moves by companies, such as Covestro AG's introduction of new polycarbonate products and partnerships for battery material production, further underscore the dynamic nature of the market. These developments are expected to bolster the demand for engineering plastics, aligning with the broader trends of increasing consumer electronics production and the integration of advanced technologies.

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North America Engineering Plastics Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)

    1. 1.1 End User Industry

      1. 1.1.1 Aerospace

      2. 1.1.2 Automotive

      3. 1.1.3 Building and Construction

      4. 1.1.4 Electrical and Electronics

      5. 1.1.5 Industrial and Machinery

      6. 1.1.6 Packaging

      7. 1.1.7 Other End-user Industries

    2. 1.2 Resin Type

      1. 1.2.1 Fluoropolymer

        1. 1.2.1.1 By Sub Resin Type

          1. 1.2.1.1.1 Ethylenetetrafluoroethylene (ETFE)

          2. 1.2.1.1.2 Fluorinated Ethylene-propylene (FEP)

          3. 1.2.1.1.3 Polytetrafluoroethylene (PTFE)

          4. 1.2.1.1.4 Polyvinylfluoride (PVF)

          5. 1.2.1.1.5 Polyvinylidene Fluoride (PVDF)

          6. 1.2.1.1.6 Other Sub Resin Types

      2. 1.2.2 Liquid Crystal Polymer (LCP)

      3. 1.2.3 Polyamide (PA)

        1. 1.2.3.1 By Sub Resin Type

          1. 1.2.3.1.1 Aramid

          2. 1.2.3.1.2 Polyamide (PA) 6

          3. 1.2.3.1.3 Polyamide (PA) 66

          4. 1.2.3.1.4 Polyphthalamide

      4. 1.2.4 Polybutylene Terephthalate (PBT)

      5. 1.2.5 Polycarbonate (PC)

      6. 1.2.6 Polyether Ether Ketone (PEEK)

      7. 1.2.7 Polyethylene Terephthalate (PET)

      8. 1.2.8 Polyimide (PI)

      9. 1.2.9 Polymethyl Methacrylate (PMMA)

      10. 1.2.10 Polyoxymethylene (POM)

      11. 1.2.11 Styrene Copolymers (ABS and SAN)

    3. 1.3 Country

      1. 1.3.1 Canada

      2. 1.3.2 Mexico

      3. 1.3.3 United States

North America Engineering Plastics Market Size FAQs

The North America Engineering Plastics Market size is expected to reach USD 18.54 billion in 2024 and grow at a CAGR of 6.70% to reach USD 25.64 billion by 2029.

In 2024, the North America Engineering Plastics Market size is expected to reach USD 18.54 billion.

North America Engineering Plastics Market Report Snapshots

North America Engineering Plastics Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029